Wave count suggest NYMEX:CLG2017 is consolidating within 50.5 - 55.5 range in wave IV.
We might see a little push up to 54.8 tomorrow. Invalidation level for this trade is 53.18 level. We might see a 53.4, during asian or european session, but I don't think we will go down further.
As Crude will complete a zigzag in wave B into a major confluence level @ 54.8 I recommend to take short position in anticipation of impulse wave C.
@ 54.8 we have
(A) = (C)
1 of (C) = 5 of (C)
wave A 0.886 retracement
1.618 XA projection from bearish crab harmonics
Comment
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wave 5 of (C) came out to be 1.618 of wave 1 and fall 4 cents short the start of wave (A)
@nauphal.ghany, from now, the recommendation is to celebrate holidays :)
I think we are still in wave 4 circled, consolidating, with a potential to go a bit lower, to say 53.2x. Over all, my intermediate term (1st week of NY) view is bearish. So I would advise sell after another up leg.